How to buy, earn and trade Dogecoin in Nigeria
Memecoin, altcoin, or shitcoin call it whatever you want, but there’s no arguing the fact that Dogecoin is now more than ever an important coin in today’s rapidly growing cryptocurrency market.
With a valuation of over $31 Billion, it’s the tenth-largest cryptocurrency by market cap. Earlier in May of 2021, it hit its highest valuation till date, trading at an unprecedented $0.74 per coin. That rise to what is still its all-time high came on the backdrop of the early 2021 bull run. In the following months, the crypto market sort of hit a plateau after dipping hard, but everything indicates we’re on the cusp of another record-shattering bull run.
You want to get your Dogecoin prepared for that bull run, and in this guide, I outline the best legit ways to earn Dogecoin in Nigeria.
Earn Dogecoin in Nigeria via trading
The most obvious way to earn Dogecoin is via trading crypto (Dogecoin included) on crypto trading sites and exchanges. If you’ve done Forex or Stock trading before, trading cryptocurrencies is very similar. If you’ve not, check out this guide on cryptocurrency trading by the guys at Binance.
The general concept with crypto trading is buying low and selling high. Doing this on a large and profitable scale requires in-depth knowledge of the crypto market and an understanding of crypto-trading strategy formulation and implementation.
If any of that seems Alien to you, then you should definitely check out this other Binance guide on crypto trading and strategy formulation.
Once you’ve understood what’s needed to trade profitably, it’s on to finding a reputable site where you can buy and sell Dogecoin in Nigeria.
The best place to buy and trade Dogecoin in Nigeria
You can buy Dogecoin in Nigeria by using any of the following exchanges
Of the four, Binance is probably the most’ Nigerian friendly’ since it allows for peer-to-peer buying and trading of Dogecoin and other cryptocurrencies. Peer-to-peer buying of Dogecoin in Nigeria is important because most Naira-denominated ATM cards won’t work on crypto exchanges. That’s thanks to a CBN circular released a few months back, which prohibits banks from processing debit card crypto transactions.
Peer-to-peer exchanges allow you to hook up with fellow Nigerians on crypto exchanges that support the feature so you can pay into their local Naira account while they transfer the Dogecoin equivalent to your account on the exchange.
Paxful has a similarly effective peer-to-peer exchange system, but only USDT and Bitcoin (BTC) are supported right now. However, you can buy any of both, transfer it to an exchange (like Binance) that deals Dogecoin, and then commence your trading from there.
You can also buy Dogecoin and other cryptocurrencies on Nairaland
Alternatively, you can also head over to Nairaland and either;
- Create an ad for a peer-to-peer BTC, USDT, or Dogecoin trade
- Search for a seller of any of the three on the main Nairaland cryptocurrency thread.
I’ll, however, add that it’s important to use an escrow when dealing with cryptocurrencies on Nairaland. There are many legit sellers on there but so also are scammers.
Earning Dogecoin through survey sites
Several platforms online allow you to complete surveys and other tasks for a payout in crypto. With the rise to popularity of cryptocurrencies, some of these sites now payout in Dogecoin. The kind of survey or task you get to complete depends largely on your demographic profile. So if you’re a 32-year-old woman from Nigeria, you’ll be hit with surveys and tasks applicable to your demographic niche.
The best survey sites to earn Dogecoin in Nigeria
I’ve through many survey sites, but the ones that stand out in terms of reliability, availability of surveys, and undelayed payouts include
On gain.gg tasks range from completing online offers to watching promoted videos.
On gg2u.org, you get to complete more gaming-oriented tasks and some of the routine surveys and offers.
Note that the payouts from these sites for single offers and surveys are not anything extraordinary. Don’t go there thinking you’re going to make serious bank from your first survey. Payouts are comparatively small, but they add up to something big if you grind hard enough. The tasks and surveys themselves are simple, so you don’t need any special skills or abilities to get around them.
Earning Dogecoin through remicash
remicash is Africa’s first fully floated crypto savings and investment platform. Much like your bank, remicash operates savings accounts for its users. Only this time, these accounts are denominated in cryptocurrencies, Dogecoin inclusive. When you save on remicash, you get to earn cryptocurrencies just like you would earn interest on your normal savings account in a bank.
Earning Dogecoin through remicash has many advantages over the other mediums we’ve discussed so far. For one, you don’t need to jump through any of the hoops brought on by the CBN’s crypto policy to get your hands on some Dogecoin.
All you need do is deposit money in Naira, select your savings plan, set your payout cryptocurrency to Dogecoin, and remicash will handle the rest. And by handling the rest I mean, automatically crediting your account with earned Dogecoin every month at a specified interest rate.
Whatever Dogecoin you earn on remicash can be;
- Converted into Naira for withdrawal at the prevailing trading value of Dogecoin
- Sent to an offsite exchange where you can trade and use it just as you would Dogecoin bought through the normal peer-to-peer trading system.
Unlike peer-to-peer crypto trading platforms, however, remicash takes away the risks, uncertainties, and bottlenecks that come with buying Dogecoin in Nigeria. You don’t have to worry about scammers, bounced payments and anything of that sort.
See more on how to earn cryptocurrencies like Dogecoin on remicash.
There are three major ways to legit earn Dogecoin in Nigeria
Through buying and trading Dogecoin
- The best place to buy Dogecoin in Nigeria for trading is Binance using their peer-to-peer Dogecoin buying system.
- You can also use Nairaland’s cryptocurrency main thread to meet sellers. BUT, be very wary of scammers — there’s a lot of them on Nairaland masquerading as legit traders on the platform.
Through completing online surveys and tasks
The best sites to earn Dogecoin through surveys and tasks in Nigeria include
As a registered FinTech company with the Corporate Affairs Commission, remicash allows you to earn Dogecoin in Nigeria with ease and peace of mind. You don’t have to bother yourself with escrows or worry about scammers. It’s as simple and straightforward as creating an online account.
Got any other methods to earn Dogecoin in Nigeria, let us know in the comment section.